TKG Advisors LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,660 shares of the iPhone maker’s stock after selling 57 shares during the period. TKG Advisors LLC’s holdings in Apple were worth $620,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. 1620 Investment Advisors Inc. increased its holdings in Apple by 0.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the last quarter. Verus Financial Partners Inc. increased its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory increased its stake in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares in the last quarter. Finally, Core Wealth Management Inc. raised its holdings in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Wedbush upped their target price on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.64.
Insider Buying and Selling
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Apple Stock Down 1.1 %
Apple stock opened at $242.21 on Wednesday. The firm has a 50 day moving average price of $239.32 and a two-hundred day moving average price of $229.57. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The firm has a market cap of $3.66 trillion, a price-to-earnings ratio of 39.84, a PEG ratio of 2.41 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 EPS. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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